LEASE AMENDMENT VI
Exhibit 10.32
THIS LEASE AMENDMENT (the "Amendment") is made as of the 24th day of July 2002, by and between XXXXXXXXX VILLAGE ASSOCIATES ("Landlord") and American Rental Management Company ("Tenant").
WITNESSETH:
WHEREAS, Landlord and original tenant entered into a lease for certain commercial space in Xxxxxxxxx Xxxxxxx Xxxxxxxx Xxxxxx, Xx.Xxxxxxx, Xxxxxxxx dated December 1, 1987 (the "Lease"; and
WHEREAS, Lease was amended by Lease Amendment dated February 1, 1989; and
WHEREAS, Lease was further amended by Lease Amendment II dated December 1, 1992; and
WHEREAS, Lease was further amended by Lease Amendment III dated September 30, 1994; and
WHEREAS, Lease was further amended by Lease Amendment IV dated September 5, 1995; and
WHEREAS, Lease was assigned to American Rental Management Company by Assignment and Assumption dated September 1, 2000; and
WHEREAS, Lease was further amended by Lease Amendment V dated September 1, 2000; and
WHEREAS, Tenant requests to exercise it's Option to Extend the Lease for it's first period of five (5) years beginning September 1, 2005
NOW THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein, the parties agree as follow:
- Landlord hereby extends Tenant's Lease Agreement exercising it's first Option to Extend the Lease five (5) additional years beginning September 1, 2005 and terminating August 31, 2010.
- Except as specifically modified by this Amendment, the terms and provisions of the Lease will continue in full force and effect.
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IN WITNESS WHEREOF, the undersigned have duly executed this Amendment, or caused this Amendment to be executed by their duly authorized representatives.
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By: |
XXXXXXXXX VILLAGE ASSOCIATES |
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/s/ Xxxxx X. Xxxxx |
/s/ J. Xxxxxxx Xxxxxx |
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By: |
American Rental Management Company |
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/s/ Xxxxx X. Xxxxxxxxx |
/s/ Xxxx Xxxxxx, Senior Vice President |
State of Maryland
SS:
County of Xxxxxxx
Before me, a Notary Public in and for the jurisdiction aforesaid, personally appeared this date J. Xxxxxxx Xxxxxx. Personally well known (or satisfactorily proven) to me to be the President of Interstate Business Corporation a Delaware corporation, who being by me first duly sworn, did acknowledge that he/she, as the duly authorized officer of said Corporation, executed the foregoing and annexed instrument, in the name and on behalf of the Corporation, as its free act and deed for the uses and purposes contained herein.
WITNESS my hand and official seal this 12th day of September, 2002.
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/s/ Xxxxxxxxx Xxxxxxx |
My commission expires 11/1/02 |
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Interstate Business Corporation
Executive Offices: 000 Xxxxxxxxx Xxxxxxx Xxxxxx, Xx. Xxxxxxx, Xxxxxxxx 00000
(000) 000-0000 or Metro-D.C. 843-7333
August 22, 2002
Xxxxxxxxx Village Associates
000 Xxxxxxxxx Xxxxxxx Xxxxxx
Xx. Xxxxxxx, Xxxxxxxx 00000
American Rental Management Company
000 Xxxxxxxxx Xxxxxxx Xxxxxx
Xx. Xxxxxxx, Xxxxxxxx 00000
Re: Lease from Xxxxxxxxx Village Associates
To American Rental Management Company
Ladies and Gentlemen:
In connection with the lease amendment dated July 24, 2002 (the "ARMC Lease") between Xxxxxxxxx Village Associates ("SVA"), as Landlord, and American Rental Management Company ("ARMC"), as Tenant, the undersigned, Interstate Business Corporation ("IBC"), agrees that should ARMC decide to vacate the premises, IBC will assume all of ARMC's rights and obligations under the Lease Agreement including all Amendments.
We understand that you will rely on the assurance provided in this letter and that you may disclose this letter to lender(s) with mortgage(s) or deed(s) of trust on the Xxxxxxxxx Village Center property.
Very truly yours,
INTERSTATE BUSINESS CORPORATION
By: /s/ J. Xxxxxxx Xxxxxx
Xxxxx Xxxxxxx Xxxxxx
President
